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A Comprehensive Plan to Confront the Retirement Savings Crisis

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Abstract

The plan proposes a simple, immediately effective solution to address the fundamental flaws in today's broken retirement system. It details a single, sustainable framework - Guaranteed Retirement Accounts (GRAs) - to allow Americans to save consistently, generate the returns necessary, and retire with guaranteed lifelong income. And by repurposing lopsided subsidies and strategically using existing government infrastructure, this plan can be implemented with no new taxes, bureaucracy or increase of the federal deficit.

Suggested Citation

  • Teresa Ghilarducci & Hamilton James, 2016. "A Comprehensive Plan to Confront the Retirement Savings Crisis," SCEPA publication series. 2016-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapb:2016-01
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    File URL: https://www.economicpolicyresearch.org/images/Retirement_Project/Retirement_Security_Guaranteed_digital.pdf
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    More about this item

    Keywords

    Retirement; GRA; Savings;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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